I had a Nissan Altima that I rented for a few weeks to drive while my truck was in the shop and it hand the telescoping wheel. I didn't know it had it till I allowed my dad to drive it and he changed the tilt on the wheel. It had a handle under the wheel you pulled down to tilt it. Well at the same time I had an itch, I was tilting the wheel and pushed in and the wheel pushed in. I then pulled out and the wheel pulled out, I almost thought I broke it!! Maybe the Camaro is like this, It may be the same control as the tilt but it takes a little effort to get it to telescope.

and yeah, our vovlo XC90 had it, but we didnt figure that out for a while, we just pulled the lever and tilted it. then one day we some how accidentally pulled it, and it came out. so maybe thats why you didnt notice on the one you sat in. its in them alll

I don't know about the Mustang, but some Fords have adjustable pedals. Adjustable pedals, steering wheel and seat is the only way to get a perfect fit, just like in an aircraft. Wish the Camaro had the pedals, but the telescoping steering wheel is an immense help for us long-legged folk!